SNG & Partners acts on Lodha Developers ₹500 crore NCD Issuance

SNG & Partners represented investors and the debenture trustee in relation to the issuance of rated, listed, senior, secured, redeemable, taxable, transferable non-convertible debentures (NCDs) aggregating to a total of ₹500 crore by Lodha Developers Limited.

The NCDs were issued in two issuances comprising (i) 20,000 debentures of face value ₹1,00,000 each, and (ii) 30,000 debentures of face value ₹1,00,000 each, aggregating to ₹500 crore. The debentures were privately placed and subsequently listed on the stock exchange, marking a significant capital mobilisation by the company.

SNG & Partners acted as legal counsel to the investors and the debenture trustee, advising on all aspects of the transaction including structuring of the issuance, drafting, reviewing, and negotiating the transaction documents, conducting legal due diligence, and overseeing regulatory compliances leading to successful listing of the debentures on the stock exchange.

The transaction was led by Aditya Vikram Dua (Partner & Head – Financial Services), with Aniket Sawant (Associate Partner), Parvathi Menon (Senior Associate), Kartikeya Rao (Associate) and Prashant Dubey (Associate) forming the core team that provided end-to-end legal support and seamlessly executed the transaction within tight timelines.

The Firm had advised the investors and the debenture trustee of the Company on a ₹300 crore NCD issuance earlier this year.

Lodha Developers were advised by their in-house legal team on this NCD issuance.

Formerly known as Macrotech Developers, Lodha Developers is a key player in India’s real estate sector with a diversified and expansive portfolio spanning residential, commercial, and mixed-use developments. With a strong footprint in core urban markets such as Mumbai, Pune, and Bangalore, Lodha Developers is known for delivering high-quality developments under marquee brands such as “Lodha,” “CASA by Lodha,” and “Crown – Lodha Quality Homes”. Lodha Developers’ vision and execution continue to shape the urban real estate landscape in India.

The funds raised through this issuance are intended to be utilised towards Lodha Developers’ capital expenditure, refinancing of existing debt, meeting long-term working capital requirements, and general corporate purposes—forming an integral part of the company’s broader strategy to optimise its capital structure and fuel future growth.

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